The bpost Board of Directors proposes to cancel the May 2020 final dividend payment due to COVID-19Friday 27 March 2020
Friday, March 27 2020
The spread of the COVID-19 virus has an unprecedented impact on economic activity and society in general. During such crisis, the daily presence of bpost close to the citizens and its customers is of vital importance. To safeguard the continuity of its service in the best possible conditions, bpost Group has taken an extensive set of measures to ensure the safety and health of its employees and customers.
Considering the uncertain length and severity of the COVID-19 crisis and its impact on bpost Group, the Board of Directors will propose to the ordinary General Meeting of Shareholders to be held on May 13, 2020 to distribute a gross dividend per share on the results of full year 2019 of EUR 0.62 instead of EUR 0.73 as communicated in the FY19 results press release of March 17, 2020. This would imply that, since an interim dividend of EUR 0.62 gross per share was already paid on December 9, 2019, no further dividend on the results of full year 2019 will be paid.
bpost Group remains fully committed to delivering sustainable shareholder returns. However, in the present exceptional circumstances, the Board wants to prioritize the strength of bpost’s balance sheet and cash reserves for the long-term.
bpost Group continues to closely monitor the impact of the COVID-19 virus on its operations and financials. Given the uncertainties and ongoing developments, bpost Group is not in a position to date to accurately and reliably estimate the quantitative impact and will communicate as soon as this assessment can be made.